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Doublebottomreversal

OMGBTC double-bottom, wedge challenge?OMGBTC recently had a near breakout from a double bottom w-pattern a few days ago (blue dotted lines). It has since started to retrace (as is common with a double-bottom breakout), however, if it does in fact continue to break upward again, there is some interesting resistance right around the corner. Since 2018, a descending falling wedge has been forming for OMGBTC that has forms a vertex right around the beginning of 2022. Hence there is a possibility for a rise up out from a double bottom breakout to reach up to this wedge in the short term. From there either another push back downward or a breakout can be expected, but it should be interesting which occurs with how soon is the date for the apex of the wedge. It looks like OMGBTC might be a few weeks away from this point, but the direction change to challenge this wedge looks like it may occur in the next few days (if the trend does in fact head upward, as BTC Dominance has recently shown that BTC could also take over in this relationship soon, see my other post for details). Either way it looks to be another point to keep an eye on.
OLong
by crypto_trends
EOSBTC wants the breakout! 🦐The price created a double bottom on the daily timeframe and now the price is testing the daily resistance. IF the price will have a breakout, According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
12
Looking to Go Long on NZDCADAfter a nice sell of and a breakthrough of the daily support which is now daily resistance. Price also broke below the previous low, this is known as a a break of structure. This signals that price is no longer bullish and will continue a bearish move. price found support at the monthly/weekly demand zone. Here is where price formed a double bottom, which at the end of bearish movement can serve as a candlestick reversal pattern. Price broke through the neckline of the double bottom and has now began its retrace to test that area. If price can ultimately respect this neckline or do not fall below this current low, I am expecting price to make a nice bullish move to the upside. I am expecting price to pullback and test the "break of structure which also correlates to the daily resistance and the 61.8 fib level. Like if you agree, if you see something else please feel free to comment. I am open to others opinions.
Long
by NoCeilingsTrading
Multi TF Analysis: LTC-USDTFrom the past 7-8 weeks, LTC has been trading in a sideways trend with upper and lower bands at $230 and $160 respectively. After its recent high of $247, LTC took a dip and corrected by more than 30%. However, it started this week with a bang as it is already up by +15% on the weekly basis. On the daily TF, it formed a Double bottom kind of formation and seems it has completed the correction phase. On the higher side, the immediate resistance is placed in the range of $242-$245 , if bulls decisively break this hurdle, a fresh leg to the upside is most likely for the first target of $283 , followed by the next level of $305 . On the downside, the nearest support level is placed at $215 , if this level is breached the next support is available in the range of $201-$204 . MACD is also depicting a positive signal as it has started to re-enter in the positive territory, therefore, a breakout from the resistance can be expected once we get the decisive closing above $245, which will act as a confirmation to go LONG.
COINBASE:LTCUSDLong
by TradeDog-Research
EURNZD Long AnalysisWeekly Price found support and has been consolidating after a long downtrend. The previous weekly candlestick was a large bullish candle, which showed there was a significant amount of bullish pressure. Daily Price appear to have found support and formed a double bottom, which is a bullish candlestick pattern. After the formation of the double bottom, I am expecting price to make a retracement to test the neckline. The neckline also corresponds with the 50.0-61.8 Fibonacci level Here is where I will be looking to enter a long position.
Long
by NoCeilingsTrading
BTC - H1/M15 - WARNING POTENTIAL DOUBLE BOTTOM @ 47520 !H1 : Breakout of the clouds support zone triggered another wave of selling pressure which pushed down the BTC towards a low so far of 47520. Indicators are not showing bullish divergence yet on this time frame. M15 : Picture slightly different where a potential bullish divergence might be seen !!! Therefore, watch carefully price action over the coming M15 period to validate a trend reversal If it is the case watch MBB (48805) as first significant short term resistance level On the downside, an invalidation of a bullish divergence would directly put the focus on the 47000 area ahead of the 45300-43000 pivot support area mentioned on H4
BITSTAMP:BTCUSD
by Ironman8848
EUR /USD Update + Retest of the neckline. Good Day traders !!! On this Pair we have seen a major impulse today and we are sitting at a very strong level of support. On the monthly timeframe we have we have an overextended "W" formation and we just tested the neckline and we are ready to launch !!! Going down to the weekly timeframe we have an M formation and we want to test the neckline which is in confluence of with the 0.5 Fib level taken on the previous impulse. Going down to the daily timeframe we have a H&S that just formed and we want a retest to the neckline which is the same Neckline of the M formation on the weekly timeframe. Everything looks bullish for the moment. From an institutional perspective we have the more short position added on the dollar index which support our bullish idea and also on the Eur on the long run the trend is clearly toward the upside since we are looking at institutions adding long position and closing short positions. Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. Trade safe !!!
Long
by TheDayzen
6
ADA 2021 outlookWelcome fellow Tradingviewers, In this analyses we are going to show you our view on the current market situation for Cardano. We were going to share a full video on the yearly analyses with you guys but our Mic broke down. We will try to educate you guys using a video as soon as we replaced our mic. (They will be placed here ) If you want to see how we got to this view, based on our previous analyses, you will be able to find them linked in this analyses. So this will be a more general analyses. This analyses is going to be the third in a series of 7 where we try to give you an idea of what it is like to try and analyse a cryptocurrency for 12 months. This analyses is based on the impressions we get from the chart and the cryptocurrency market in general. For this analyses we will be using the 12M , 6M, 3M , 1M and 1W charts. Every month for the next 12 months we will release our monthly market breakdown. (for free) If you want to receive daily and weekly technical analyses you might want to check our website . We will be analysing ADA using a top-down strategy, including candlestick patterns , indicators and price patterns . Yearly: Since 2018 things have not been looking great for long Term ADA holders, with a big bearish engulfing candle to predict more downwards pressure. 2019 was quite calm for ADA more or less remaining on its 0.025/0.05 price point. Indicating indecisiveness in the markets. Then came 2020 and to be more precise the last part of 2020. As we can see the 2020 yearly candle closed as a bullish engulfing candle and these candles predict bullish momentum as can be seen in the chart above. This year we already have a 75% price rise and ADA does not seem to be running out of steam. 6 - Month: The six month chart shows less bearish momentum since 2018, here we can see that the first candle of 2018 did not finish as a bearish engulfing but the smaller candle in the last half of 2018 was the one that made the yearly a bearish engulfing. Which makes it slightly less bad. Following these candles we see a lot of indecisiveness, we can clearly see that price dropped and jumped back up again untill july 2020. That 1 and a half year seems to be a very good accumulation zone for the long term holders, so congratulations on those who held with us. The last six month candle closed as a bullish engulfing while almost obliterating the $0.2 resistance indicating more upwards momentum. 3 - Month: The quarterly candles are giving us a more clear view on where te uprising of ADA began. We can clearly see here that the uprising of cardano begun right after the april bullish engulfing candle. This seems to be the trigger for upwards momentum. This is then later confirmed bu our last closed quarterly candle, indicating even more upwards momentum. Monthly: The monthly is giving us a more clear view on what happened to ADA the last months. What we can see here is one of the best textbook bottom formations seen in a long time. We can clearly see bottom 1 and 2 forming a double bottom together. July 2020 was the month to break out of the pattern, after this month we have had a 3 month retracement, which stayed inside the previous bullish engulfing candle. Re-testing the Neckline of the Double bottom pattern before breaking up with another huge bullish engulfing candle. The Target of the double bottom pattern is now well over reached. The target can be directed from the pattern itself, by calculating the distance from bottom to neckline and extrapolating this to the upside. After over reaching the target of the double bottom we can clearly see that we have now tested the monthly resistance at $0.35. Weekly: - The last weekly candle was a bullish engulfing candle obliterating the target of the double bottom pattern. - We have seen a golden cross from the 50 and 100 ma for the first time on ADA, indicating strong bullish momentum. - MACD is crossed bullish indicating more bullish momentum. - Volume is picking up confirming the bullish bias. The lower timeframes are really hard to grasp at the moment except for the 15min graph. If you are in our groups you have already received this information and we want to share it to the rest of the world as well. We found a short term bottom on the 0.618 fib. at the bottom of a wedge. Wedges usually overextend their targets and we have taken the -0.27 as the first target, which is located around $0.34, the next one would be the -0.618 located around $0.36. If we can break these levels and continue to climb above the $0.4 then we might be ready for another wave up! In summary: Cardano is showing really bullish sentiment at the moment. Crypto is growing bigger and bigger everyday and Cardano with its 10th place in the crypto market ranking is not being left behind. The job for us now is to keep an eye on the lower timeframes untill we have a weekly closure above $0.4. A weekly closure above that level could mean that we are on our way to All time High once again! The lower timeframes are at the moment showing really good signs of continuing this uptrend and therefore we believe that Cardano is a solid HODL and begins to look like a BUY , especially on the lower timeframes! If you would like to receive daily, weekly and monthly analyses like this than take a look on our website! This analyses is only intended to share my idea, to educate and entertain you guys. This should not be considered as financial advice. I hope you guys enjoyed this analyses, if you did don't forget to leave a Like ! If you want to share your thoughts, please do so in the comments below! Kind Regards, Frank | Forallcrypto
BINANCE:ADAUSD
by ForAllCrypto
3
Middle Term Analysis for RVN-USDTHi there! The SEC has started auditing projects that run ICOs without permission. Ravencoin didn’t do a fundraise / ICO sell. Nobody got rich on premines or set asides. Significantly, the decentralization of the project is higher, as its its stability. This word is quoted from a community account in Twitter. I support this idea personally but not as a recommendation. So I'm not a lawyer. Let's do some T&A? This asset is showing some recovering signs since my last analysis. The community announced that Ravencoin will be halved in last of 2021 or January 2022. If you want to confirm this information, you can check it from CoinGecko. There may volatility during halving period. Be careful :) My personal targets: 0.01518$ - Reached in last analysis ✅ 0.01780$ - Reached in last analysis ✅ 0.02200$ 0.03400$ 0.04100$+ - If there will be a FOMO, this target may possible, may this asset go to 10x? Time will say that. My discourses, my analysis and my drawing are definitely not investment recommendations. Cryptocurrency trading involves high market risk. Please take care of your trades. My analysis is for educational purposes, I am not responsible for your losses.
Long
by calderontr
EURAUD H4 DOUBLE BOTTOM Pattern ReverseTECHNICAL ANALYSIS: -The support at 1.61624, a strong weekly level, rejected the price several time, moving the market a in side trend until the end of November; - The price then started a quick and strong uptrend, getting weak once it reached the resistance area. It rejected the market, moving it in a DESCENDING Channel, until it collapsed and broke our previous Support. -The market is actually creating a possible DOUBLE BOTTOM Pattern, it could be strong enough to definitely reverse the trend. CONCLUSION: I aspect the price going LONG also in a Daily Time Frame, I'm not getting any Long Position because we still don't have any confirmation from the pattern, though the price is Oversold and bounced on a very strong and important support. If you enjoy my idea, please "like" the post, it will help me so much to improve my work, and don't hesitate to share your idea! Trade safe! Gianni
Long
by FXtrades-gp
EDUCATION: Double Bottom PatternHello, dear subscribers! Today we discuss a very important special case of support line - the Double Bottom chart pattern. Definition The double bottom usually occurs when price is in the downtrend and bounced off some level (First bottom). After this bounce it seems that the price is going to fall down, but bounces off this level again (Second bottom). If the price reached the neck line (purple line), the probability of the trend reverse is high. How to trade with double bottom? You need to specify that price now is in downtrend. After the double bottom is formed, you can wait the price and neck line crossover and enter a long position with some stoploss to eliminate the possible downtrend continuation. Be careful to sole use this pattern, in case of trend reverse it is also confirmed by technical indicators, which we will examine in next posts. Summary 1)To wait the full double bottom pattern formed 2)To entry a position on the price and neckline crossover 3)To take a stoploss for the downtrend continuation
Education
by Skyrexio
1
SHAUSDT chart sums up 2 of my favorite chart patterns...Double bottoms with wedge breakouts are always potent patterns to trade IMHO. This one looks really good. One can wait for another leg down before looking for a buy signal but today's candle looks like it will be a nice bullish candle which can be a buy signal too (better to wait for the day's close). First target if price rallies from here is the wedge high or the double-bottom neckline. We then see if market breaks the neckline for a measured move up.
SLong
by thedailychartist
1